(Reuters) – Chinese carmaker Chery on Tuesday reported a 38.4 percent rise in global auto sales by 2024 to 2.6 million vehicles and expects sales of more than 3 million this year year

State-owned Chery, based in Wuhu, said its revenue rose more than 45 percent to 480 billion yuan ($65.52 billion) as it remained the country’s top auto exporter. China, sending 1.14 million to overseas markets.

The jump in sales will almost certainly push Chery up several places in the rankings of global automakers, with many yet to report their sales in 2024.

Rival Geely, which had sold 3 million vehicles through November, said this week it expects car sales to reach 5 million units by 2027.

BYD said last month it was on track to sell more than 4 million cars by 2024 and overtake both Ford and Honda in sales.

Chery is launching car models for its Omoda and Jaecoo brands in Europe, and will start producing cars with a joint venture partner in Spain this year.

($1 = 7.3257 Chinese Yuan Renminbi)

(Reporting by Nick Carey; Editing by Jason Neely)